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Domestic - Reaganomics
Critics called Reagan's approach to fixing the economy "Reaganomics," or "Trickle-Down Economics." He combined the beliefs of monetarists and side-supply economics by encouraging the federal reserve to keep interest rates righ, and asked the Congress to pass a massive tax -
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Domestic - Eliminated price controls on oil and gas
Reagan believed that government regulations were another thing that hurt the economy. One of his first duties as president was to eliminate price controls on oil and gas -
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Domestic - Changes face of Supreme Court
Reagan begins to change the face of the Supreme Court by nominating Sandra Day O'Connor to be the first woman on the supreme court -
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Foreign - The Reagan Doctrine
Reagan believed that the United States should support guerrilla groups who were fighting to overthrow pro-soviet or communist government. -
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Foreign - Military Buildup
Reagan believes in "Peace through Strength," and begins the biggest peace-time military buildup in American history. This buildup costed $1.5 trillion over 5 years. This caused a government budget deficit higher and higher. -
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Foreign - Iran-Contra Scandal
Even though Reagan had made it illegal to help the Contras, news broke in November 1986 that some officials in the Reagan administration had been selling weapons to Iran in return for the release of American hostages -
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Foreign - Star Wars
Reagan disagreed with Mutual Assured Destruction, which is the belief that as long as the US and the Soviet Union had the nucleur weapons to destroy each other, both would be afraid to use them. So, in Narch 1983, Reagan proposed the Strategic Defense Initiative, and nicknamed it Star Wars. This plan called for the development of weapons that could intercept and destroy incoming missiles. -
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Foreign - Grenada
The invasion of the Carribean Island Grenada was the first major foreign event of the administration. Reagan justifies the invasion by saying that the cooperation of the island with communist Cuba posed a threat to the US. When Grenada;s governor-general announced the resumption of the constitution and appointed a new government, the US forces withdrew. -
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Domestic - Reagan wins re-election
Ronald Reagan wins the presidency against Walter Mondale in a landslide -
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Domestic - Economy booms
In 1984, the US had begun the biggest economic expansion in its history up to that time